"Unfortunately, many of the logic chips that make up Pong are no longer readily available. There are newer parts that will perform the same function but they have different pin connections. I started by re-drawing and adapting some the circuits to the available parts." Recreating Pong from scratch. In its original hardware form. Crazy cool.

... stating that the DICE (digital integrated circuit emulator) requires a 3GHz processor to run Pong at 5-10 frames per second.

Incredible. Though, this is a general purpose IC emulator. Perhaps a Pong could be coded up more efficiently rather than going through something so general purpose.
Look at the schematic, isolate the logical portion from the analog portion, and I'm sure the requirements would go way down.